Investment Objective

To maximize long-term growth by investing principally in the common stocks of companies located around the world.

Investment Strategy

The Series may invest in stocks of companies both in developed countries and in emerging market countries. The maximum allocation to any one country, measured at the time of purchase, is the higher of 15% or double the country’s weighting in the MSCI (EAFE) Index. Total holdings in emerging market countries are limited to 35% of the portfolio measured at the time of purchase.

May be Appropriate for Investors

  • Seeking a long-term (15 years or more) investment and who are willing to accept the risk of foreign equity securities
  • Seeking to diversify a portfolio by adding a foreign equity component

Daily Price

$25.74

Daily $ Change

-$0.21

Daily % Change

-0.82%

as of 07/09/2020

Ticker

MNOWX

CUSIP

56382R399

Inception Date

03/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet ---
Applications & Forms

Performance

As of 06/30/2020

YTD

-2.53%

1 Year

5.93%

3 Year

3.77%

5 Year

3.88%

10 Year

5.39%

Inception
(09/23/1998)

7.23%

International Market Cycle (04/01/2003 - 06/30/2020)

8.04%

Inception performance is based on the Overseas Series Class I inception of 09/23/1998. For periods through 03/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class I shares. Because the Class W shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.73%
Net 0.06%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 06/30/2020

NESTLE SA-REGISTERED 4.33%
SAMSUNG ELECTRONICS CO LTD 3.79%
TENCENT HOLDINGS LTD 3.75%
UNILEVER PLC - ADR 3.44%
FINECOBANK SPA 3.39%
NEXON CO LTD 3.29%
DEUTSCHE BOERSE AG 3.23%
ALIBABA GROUP - ADR 3.01%
NOVARTIS AG- REG 2.93%
ADMIRAL GROUP PLC 2.83%

Top Ten Investments list is unaudited and excludes cash

Sector Allocation

As of 06/30/2020

Communication Services 11.93%
Consumer Discretionary 14.40%
Consumer Staples 16.85%
Energy 9.16%
Financials 11.05%
Health Care 16.40%
Industrials 7.68%
Information Technology 9.62%
Materials 2.91%

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

Country Allocation

As of 06/30/2020

United Kingdom 13.94%
China 11.13%
Canada 10.89%
Germany 10.31%
Switzerland 9.78%
Ireland 8.13%
Japan 5.75%
Netherlands 5.64%
France 4.86%
South Korea 3.79%
Italy 3.39%
Belgium 1.86%
Sweden 1.76%
Mexico 1.67%
Singapore 1.65%
Spain 1.58%
Brazil 1.56%
Australia 1.42%
Bermuda 0.89%

June Fund Holdings

As of 06/30/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
01609W102 ALIBABA GROUP - ADR CN BABA 69,165 $14,918,890.50
02319V103 AMBEV SA-ADR BR ABEV 1,408,551 $3,718,574.64
0237400 DIAGEO PLC GB DGE LN 336,055 $11,169,541.87
055622104 BP PLC-SPONS ADR GB BP 83,320 $1,943,022.40
0946580 WEIR GROUP PLC/THE GB WEIR LN 511,406 $6,720,499.27
13321L108 CAMECO CORP CA CCJ 1,048,960 $10,751,840.00
262006208 DREYFUS GVT CSH MANAGEMENT US 21,927,474.65 $21,927,474.65
2715777 QUEBECOR INC -CL B CA QBR/B CN 489,438 $10,516,283.49
2866857 LUNDIN MINING CORP CA LUN CN 1,137,258 $6,098,437.12
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 39,735 $2,853,767.70
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 25,600 $2,874,624.00
4012250 AIRBUS SE FR AIR FP 44,050 $3,156,335.62
4031976 ADIDAS AG DE ADS GR 26,975 $7,111,973.39
5107401 BEIERSDORF AG DE BEI GR 75,796 $8,619,044.79
550021109 LULULEMON - ADR CA LULU 25,440 $7,937,534.40
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 144,395 $2,585,602.00
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 4,340,000 $7,684,122.73
6642321 NIKON CORP JP 7731 JP 809,300 $6,796,764.13
66987V109 NOVARTIS AG- REG CH NVS 166,395 $14,532,939.30
6742340 SHANDONG WEIGAO CN 1066 HK 6,276,000 $14,013,361.80
6771720 SAMSUNG ELECTRONICS CO LTD KR 005930 KS 424,110 $18,774,345.57
6821506 SONY CORP FIRST SECTION JP 6758 JP 78,500 $5,418,869.10
7021963 DEUTSCHE BOERSE AG DE DB1 GR 88,620 $16,038,084.45
7123870 NESTLE SA-REGISTERED CH NESN SW 193,665 $21,471,759.66
76131D103 RESTAURANT BRANDS INTERN CA QSR 178,575 $9,755,552.25
7698356 GETINGE AB-B SHS SE GETIB SS 467,995 $8,720,793.62
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 292,440 $8,904,798.00
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 117,510 $7,795,613.40
806857108 SCHLUMBERGER LTD NL SLB 338,650 $6,227,773.50
81141R100 SEA LTD - ADR SG SE 76,250 $8,177,050.00
89151E109 TOTAL S A SPONSORED ADR FR TOT 224,060 $8,617,347.60
904767704 UNILEVER PLC - ADR GB UL 310,470 $17,038,593.60
B02J639 ADMIRAL GROUP PLC GB ADM LN 494,940 $14,035,937.62
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 551,800 $2,564,719.44
B1Y47Y7 GERRESHEIMER AG DE GXI GR 126,360 $11,677,563.20
B1Y9TB3 DANONE FR BN FP 177,220 $12,301,346.37
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 1,023,675 $8,950,369.95
B4YVF56 BRENNTAG AG DE BNR GR 145,015 $7,688,673.37
B63QM77 NEXON CO LTD JP 3659 JP 722,100 $16,287,997.83
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 129,902 $2,916,614.10
BJ2KSG2 AKZO NOBEL NL AKZA NA 92,468 $8,307,344.11
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 289,900 $18,576,186.99
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 1,837,945 $9,047,080.66
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,241,150 $16,797,731.46
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 295,550 $7,841,926.56
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 860,890 $5,605,026.04
BYRJH51 HASTINGS GROUP HOLDINGS PLC GB HSTG LN 1,458,830 $3,483,352.50
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 187,395 $9,237,862.52
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 2,960,940 $4,439,922.45
BZ1HM42 ADYEN NV NL ADYEN NA 3,100 $4,512,010.16
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 180,715 $4,407,638.85
G1151C101 ACCENTURE PLC - CL A IE ACN 45,430 $9,754,729.60
G5960L103 MEDTRONIC INC IE MDT 121,295 $11,122,751.50
G85158106 STONECO LTD-A BR STNE 104,060 $4,033,365.60
G97822103 PERRIGO CO PLC IE PRGO 158,110 $8,738,739.70
H01301128 ALCON INC CH ALC 218,088 $12,500,804.16

Investments will change over time.

Distributions

  • Overseas Series Class W Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. Funds whose investments are concentrated in foreign countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability. The value of the Series may be affected by changes in exchange rates between foreign currencies and the U.S. dollar. Investments in emerging markets may be more volatile than investments in more developed markets.

Daily Price

$25.74

Daily $ Change

-$0.21

Daily % Change

-0.82%

as of 07/09/2020

Ticker

MNOWX

CUSIP

56382R399

Inception Date

03/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet ---
Applications & Forms

Investment Objective

To maximize long-term growth by investing principally in the common stocks of companies located around the world.

Investment Strategy

The Series may invest in stocks of companies both in developed countries and in emerging market countries. The maximum allocation to any one country, measured at the time of purchase, is the higher of 15% or double the country’s weighting in the MSCI (EAFE) Index. Total holdings in emerging market countries are limited to 35% of the portfolio measured at the time of purchase.

May be Appropriate for Investors

  • Seeking a long-term (15 years or more) investment and who are willing to accept the risk of foreign equity securities
  • Seeking to diversify a portfolio by adding a foreign equity component

Performance

As of 06/30/2020

YTD

-2.53%

1 Year

5.93%

3 Year

3.77%

5 Year

3.88%

10 Year

5.39%

Inception
(09/23/1998)

7.23%

International Market Cycle (04/01/2003 - 06/30/2020)

8.04%

Inception performance is based on the Overseas Series Class I inception of 09/23/1998. For periods through 03/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class I shares. Because the Class W shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.73%
Net 0.06%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 06/30/2020

NESTLE SA-REGISTERED 4.33%
SAMSUNG ELECTRONICS CO LTD 3.79%
TENCENT HOLDINGS LTD 3.75%
UNILEVER PLC - ADR 3.44%
FINECOBANK SPA 3.39%
NEXON CO LTD 3.29%
DEUTSCHE BOERSE AG 3.23%
ALIBABA GROUP - ADR 3.01%
NOVARTIS AG- REG 2.93%
ADMIRAL GROUP PLC 2.83%

Top Ten Investments list is unaudited and excludes cash

Sector Allocation

As of 06/30/2020

Communication Services
11.93%
Consumer Discretionary
14.40%
Consumer Staples
16.85%
Energy
9.16%
Financials
11.05%
Health Care
16.40%
Industrials
7.68%
Information Technology
9.62%
Materials
2.91%

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

Country Allocation

As of 06/30/2020

United Kingdom
13.94%
China
11.13%
Canada
10.89%
Germany
10.31%
Switzerland
9.78%
Ireland
8.13%
Japan
5.75%
Netherlands
5.64%
France
4.86%
South Korea
3.79%
Italy
3.39%
Belgium
1.86%
Sweden
1.76%
Mexico
1.67%
Singapore
1.65%
Spain
1.58%
Brazil
1.56%
Australia
1.42%
Bermuda
0.89%

June Fund Holdings

As of 06/30/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
01609W102 ALIBABA GROUP - ADR CN BABA 69,165 $14,918,890.50
02319V103 AMBEV SA-ADR BR ABEV 1,408,551 $3,718,574.64
0237400 DIAGEO PLC GB DGE LN 336,055 $11,169,541.87
055622104 BP PLC-SPONS ADR GB BP 83,320 $1,943,022.40
0946580 WEIR GROUP PLC/THE GB WEIR LN 511,406 $6,720,499.27
13321L108 CAMECO CORP CA CCJ 1,048,960 $10,751,840.00
262006208 DREYFUS GVT CSH MANAGEMENT US 21,927,474.65 $21,927,474.65
2715777 QUEBECOR INC -CL B CA QBR/B CN 489,438 $10,516,283.49
2866857 LUNDIN MINING CORP CA LUN CN 1,137,258 $6,098,437.12
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 39,735 $2,853,767.70
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 25,600 $2,874,624.00
4012250 AIRBUS SE FR AIR FP 44,050 $3,156,335.62
4031976 ADIDAS AG DE ADS GR 26,975 $7,111,973.39
5107401 BEIERSDORF AG DE BEI GR 75,796 $8,619,044.79
550021109 LULULEMON - ADR CA LULU 25,440 $7,937,534.40
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 144,395 $2,585,602.00
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 4,340,000 $7,684,122.73
6642321 NIKON CORP JP 7731 JP 809,300 $6,796,764.13
66987V109 NOVARTIS AG- REG CH NVS 166,395 $14,532,939.30
6742340 SHANDONG WEIGAO CN 1066 HK 6,276,000 $14,013,361.80
6771720 SAMSUNG ELECTRONICS CO LTD KR 005930 KS 424,110 $18,774,345.57
6821506 SONY CORP FIRST SECTION JP 6758 JP 78,500 $5,418,869.10
7021963 DEUTSCHE BOERSE AG DE DB1 GR 88,620 $16,038,084.45
7123870 NESTLE SA-REGISTERED CH NESN SW 193,665 $21,471,759.66
76131D103 RESTAURANT BRANDS INTERN CA QSR 178,575 $9,755,552.25
7698356 GETINGE AB-B SHS SE GETIB SS 467,995 $8,720,793.62
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 292,440 $8,904,798.00
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 117,510 $7,795,613.40
806857108 SCHLUMBERGER LTD NL SLB 338,650 $6,227,773.50
81141R100 SEA LTD - ADR SG SE 76,250 $8,177,050.00
89151E109 TOTAL S A SPONSORED ADR FR TOT 224,060 $8,617,347.60
904767704 UNILEVER PLC - ADR GB UL 310,470 $17,038,593.60
B02J639 ADMIRAL GROUP PLC GB ADM LN 494,940 $14,035,937.62
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 551,800 $2,564,719.44
B1Y47Y7 GERRESHEIMER AG DE GXI GR 126,360 $11,677,563.20
B1Y9TB3 DANONE FR BN FP 177,220 $12,301,346.37
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 1,023,675 $8,950,369.95
B4YVF56 BRENNTAG AG DE BNR GR 145,015 $7,688,673.37
B63QM77 NEXON CO LTD JP 3659 JP 722,100 $16,287,997.83
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 129,902 $2,916,614.10
BJ2KSG2 AKZO NOBEL NL AKZA NA 92,468 $8,307,344.11
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 289,900 $18,576,186.99
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 1,837,945 $9,047,080.66
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,241,150 $16,797,731.46
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 295,550 $7,841,926.56
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 860,890 $5,605,026.04
BYRJH51 HASTINGS GROUP HOLDINGS PLC GB HSTG LN 1,458,830 $3,483,352.50
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 187,395 $9,237,862.52
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 2,960,940 $4,439,922.45
BZ1HM42 ADYEN NV NL ADYEN NA 3,100 $4,512,010.16
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 180,715 $4,407,638.85
G1151C101 ACCENTURE PLC - CL A IE ACN 45,430 $9,754,729.60
G5960L103 MEDTRONIC INC IE MDT 121,295 $11,122,751.50
G85158106 STONECO LTD-A BR STNE 104,060 $4,033,365.60
G97822103 PERRIGO CO PLC IE PRGO 158,110 $8,738,739.70
H01301128 ALCON INC CH ALC 218,088 $12,500,804.16

Investments will change over time.

Distributions

  • Overseas Series Class W Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. Funds whose investments are concentrated in foreign countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability. The value of the Series may be affected by changes in exchange rates between foreign currencies and the U.S. dollar. Investments in emerging markets may be more volatile than investments in more developed markets.


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